What is STR?

PasturesNew

Yes, to STR is to make an active choice to sell your house and "bank the equity" in it. So not for those that were going under. It's a conscious decision to think "I think house prices will fall, for whatever reason I will sell my house, bank the cash and in the future I will be able to buy more for my money than I could today."

I did this a year ago. But I was living in an area where I couldn't find jobs. The house was too big. I didn't like it. I had no skills to do it up. It needed a big cash injection from somebody with desire/cash/skills. I had none of these. I STR'd to relocate/get a job/get a life/not live a life of poverty.

I also thought that my house was so "specilist" that I'd be trapped in it for another 7 years if I didn't get rid of it because there'd not be enough buyers around who could use the space/wanted that sort of house for years probably. And if I waited it out I'd be old and life would be over and I'd never get to move away at all.

havethis1

smelly tit rash

Mary_Hartnell

http://forums.moneysavingexpert.com/showpost.html?p=397751&postcount=18

southernscouser

Sexually Transmitted Radio?

m00m00

or the Mr B version

Serially Talking Rubbish

havethis1

southernscouser wrote: »

Sexually Transmitted Radio?

scouse theiving rabbit

southernscouser

havethis1 wrote: »

scouse theiving rabbit

Yeah. I don't think you've quite thought that one through.

dudleyboy

EdInvestor wrote: »

The STRs atre the people who are desperate for a house price crash.

Many of them sold their homes a few years ago, putting the money in the bank and using the interest to pay the rent.They thought prices were so high the market would crash and they would make a killing by buying back in cheaply.

They are just speculators really.

Instead prices just went on rising and after a while they couldn't even afford to buy back the house they had sold, much less make a profit.That's why they are so hopeful now that they can at last get back in without making a loss.

And, truth be told, had the market crashed back in 2005, or whenever Brodders and co decided to (wisely, IMHO) sell to rent, the market and future would be no where near as bleak as it is now.

In 2005, when the market looked like it was peaking, it was given an artificial injection, which allowed it to boom (and some!) for a further 2 years. We all know the rest...

I think future history will show us that they got out at just the right time, irrespective of how much extra they could've profited on paper. Those who do own these assets can now not sell them and are watching their value decrease with each passing month. Those who got out before the credit crunch really hit were just plain lucky.

If things look bad now, wait until everyone comes off their low, interest-only, fixed rate mortgages.

Gorgeous_George

It's a bit like Deal or No Deal. You can go the extra round if you are greedy but risk the offer being a lot less in the next round.

GG

Davesnave

The graduate with a science degree asks, "Why does it work?"
The graduate with an engineering degree asks, "How does it work?"
The graduate with an accounting degree asks, "How much will it cost?"
The graduate with an arts degree asks, "Do you want fries with that?"

Nice one, George, but actually the other three need the arts guy to do the marketing, or they're going nowhere.